NextSource Materials Completes First Commercial Shipments of Graphite Concentrate to Germany and USA
NextSource Materials Completes First Commercial Shipments
of Graphite Concentrate to Germany and USA
NEWS RELEASE – TORONTO, October 24, 2024
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or “the Company”) is
pleased to announce it has completed its first commercial shipments of SuperFlake® graphite
concentrate from its Molo Graphite Mine (the “Molo mine”) in southern Madagascar.
Full container loads of high-quality, coarse flake graphite concentrate were exported from the Port
of Tulear, Madagascar to Germany and to the United States of America (USA) under existing
offtake agreements. These initial container shipments of SuperFlake® graphite are destined for key
demand markets for higher value graphite products, including refractory materials and graphite foils
for consumer electronics and fire-retardant applications.
Craig Scherba, President & Chief Executive Officer commented:
“We are delighted to announce our first commercial shipments of SuperFlake® graphite from Molo
to European and American customers . This is an important step in NextSource’s development as
a supplier of critical materials to global markets and a contributor to economic development in
Madagascar.”
About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials development company based in Toronto, Canada
that is intent on becoming a vertically integrated global supplier of battery materials through the
mining and value-added processing of graphite and other minerals.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest -
quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine
has begun production, with Phase 1 mine operations currently being opti mized to reach its
nameplate production capacity of 17,000 tpa of graphite concentrate.
The Company is also developing a significant downstream graphite value -add business through
the staged rollout of Battery Anode Facilities capable of large -scale production of coated,
spheronized and purified graphite for direct delivery to battery and aut omotive customers, outside
of existing Asian supply chains, in a fully transparent and traceable manner.
NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and
on the OTCQB under the symbol “NSRCF”.
For further information about NextSource please visit our website at www.nextsourcematerials.com
or contact us:
Investors: Brent Nykoliation Executive Vice President +1.416.364.4911
[email protected] or Craig Scherba, President & CEO
Media: Michael Oke/Andy Mills +44 207 321 0000 [email protected]
Cautionary Note
This press release contains statements that may constitute “forward-looking information” or “forward-looking statements”
within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place
undue reliance on forward-looking information or statements. Forward looking statements and information are frequently
characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible”
and other similar words, or statements that certain events or conditions “may”, “will”, “could”, or “should” occur. Forward-
looking statements include any statements regarding, among others, timing of commercial sales, commissioning and
achievement of nameplate capacity, including the processing plant, process improvements and mine plant adjustments as
well as production estimates and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the
timing thereof. These statements are based on current expectations, estimates and assumptions that involve a number of
risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the
Company and described in the forward-looking statements contained in this press release. No assurance can be given
that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what
benefits the Company will derive there from. The forward-looking statements contained in this news release are made as
at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of
the forward-looking statements, whether because of new information, future events or otherwise, except as may be
required by applicable securities laws. Although the forward-looking statements contained in this news release are based
on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will
be consistent with them. These forward-looking statements are made as of the date of this news release and are
expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does
not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or
circumstances occurring after the date of this news release.